1. MANARA ACADEMY NOV. 17 TH, 2012 2012 Annual Financial Report 1 2012 Annual Financial Management Report

2. Outline 2012 Annual Financial Report 2 -What is School FIRST? -2011 School FIRST -2012 School FIRST -Conclusion

3. School FIRST/Charter FIRST 2012 Annual Financial Report 3 Financial Integrity Rating System of Texas Adopted in Dec. 2007 for School Districts Impacts school accreditation. May impact the special education determination status Is a group of accountability indicators to test against FIRST Rating on TEA’s website. FIRST Rating on TEA’s website

4. 2011 Charter FIRST 2012 Annual Financial Report 4 3 financial accountability indicators only Source of data is the 2009-2010 annual financial audit 3 possible Ratings:  Standard Achievement  Substandard Achievement  Suspended-Data Quality (affects accreditation for the year 11- 12) Must receive a “Yes” on all 3 indicators to achieve “Standard Achievement” rating. Our district received a “Standard Achievement”

5. 2012 Charter FIRST 2012 Annual Financial Report 5 Add the financial solvency provisions Add PEIMS Standard data provisions 21 indicators (just like school districts)-changed later to 19 indicators Possible ratings would be:  Superior Achievement  Above Standard Achievement  Standard Achievement  Substandard Achievement  Suspended-Data Quality

6. Rating for Manara Academy 2012 Annual Financial Report 6 2012 Ratings for Charter Schools Select 2010-2011 from the dropdown Click the district number to display indicators Passed the first 6 indicators Received highest scores (5 out of 5) for indicators 7 to 18. Could not meet indicator # 19 (Investment Earnings) – TEA is reconsidering this indicator.

7. Compensations and Gifts 2012 Annual Financial Report 7 Reported compensations & reimbursements to the Superintendent & Board of Trustees members for the 2010-2011 year. Reported gifts received from external entities (by superintendent or charter holder) – none. SuperintendentBoard President Board V. President Board Member 1 Board Member 2 Board Member 3 Board Member 4 $37,805*$0.00 * The amount forms 50% of contract total as the person is split between the Superintendent and the Principal two roles.

8. Financial Solvency Inputs 2012 Annual Financial Report 8 Annual total expenditures from General Operating fund. Capital outlays Default on borrowed funds Whether the Charter declared bankruptcy within the last 2 years Staff to WADA ratio Number of superintendents and business managers in the last 3 years.

9. Conclusion 2012 Annual Financial Report 9 Improved financial performance for 2010-2011 relative to previous year (2009-2010). No corrective actions required. Expected further improvement and similar results from 11-12 fiscal year. Investing School funds - numerous factors come to play…. The state investments in public education are massive-Charter districts are gaining popularity.

10. Questions 2012 Annual Financial Report 10 ?!